Accenture invests in Latin American Web3 company, Parfin

From left to right. Alex Buelau chief technology officer, Marcos Viriato CEO, Cristian Bohn chief product officer, Parfin

Accenture has made a strategic investment in Parfin, a provider of Web3 infrastructure services to financial institutions in Latin America. This marks Accenture Ventures’ first Project Spotlight investment in Latin America.

Founded in 2019, Parfin offers digital asset custody, trading, tokenization and management tools to some of Latin America’s largest financial institutions. It is the latest company to join Accenture Ventures’ Project Spotlight with previous investments including StardogVirtonomyCosmo Tech, BehaVR and more recently, Praxis Labs.

Parfin is currently developing Parchain, a permissioned blockchain technology that is designed to enable regulated entities to participate in decentralized finance (DeFi) and asset tokenization. This technology enables financial institutions to participate in this new digital economy and is well-positioned to play a role in broadening the scope of the Digital Real, Brazil’s central bank digital currency.

“Web3, new forms of digital identity and end-to-end digital asset platforms like Parfin’s are challenging global financial services organizations to rethink their digital asset strategies,” said Mauricio Barbosa, financial services group lead, Accenture Brazil. “Powered by Parfin’s enterprise-grade digital assets and blockchain infrastructure, Accenture is accelerating and enabling Brazil’s largest financial services institutions to leverage digital asset transactions with a compliant, secure technology platform.”

“Accenture’s global presence, coupled with its industry expertise in technology and financial services, makes them an ideal strategic investor to help us advance our development of next generation infrastructure for the global adoption of digital assets,” said Marcos Viriato, co-founder and CEO of Parfin. “With Accenture’s support, and the introductions they can make on our behalf, we are even better positioned to help our existing clients in Brazil execute their digital asset strategies and expand our solution offerings to new clients in other parts of Latin America and around the world.”